NCS Multistage Q4 revenue $50.6M (+13% YoY); full-year adj. EBITDA $26.7M (+20%)

NCS Multistage Holdings, Inc.

Q4 revenue $50.6M (+13% YoY), operating income $5.2M (+78%), net income $15.0M ($5.34/diluted) incl. $9.8M deferred tax valuation allowance release.
FY 2025 revenue $183.6M (+13%), adj. EBITDA $26.7M (15% margin vs 14% prior year), free cash flow after distributions $18.9M (+$9.0M YoY).
Cash $36.7M, debt $7.6M (finance leases); cash from ops $22.2M; ResMetrics contributed $5.2M revenue since acquisition July 31, 2025.
Canadian patent appeal overturned prior $1.8M judgment; $0.9M returned to NCS in Nov 2025; case remitted.
2026 outlook: expects continued challenging market but positioned for market share gains, new product adoption, international expansion.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

NCS Multistage Holdings, Inc. reported the year ended December 31, 2025 results: revenue $183.6 million, net income $23.7 million, EPS $8.65 per diluted share.

Period: the year ended December 31, 2025
Revenue: $183.6 million
Net income: $23.7 million
EPS: $8.65 per diluted share
Result: reported results

Exact text from the filing

Total revenues of $183.6 million, a 13% improvement over 2024 ● Operating income more than doubled to $10.5 million from $4.3 million in 2024 ● Net income of $23.7 million ( $8.65 per diluted share), including a net positive impact of $11.5 million related to the release of our deferred tax valuation allowance ● Adjusted EBITDA of $26.7 million, compared to $22.3 million in 2024

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

NCS Multistage Holdings, Inc. reported the quarter ended December 31, 2025 results: revenue $50.6 million, net income $15.0 million, EPS $5.34 per diluted share.

Period: the quarter ended December 31, 2025
Revenue: $50.6 million
Net income: $15.0 million
EPS: $5.34 per diluted share
Result: reported results

Exact text from the filing

Total revenues of $50.6 million, a 13% year-over-year improvement and exceeding the high end of prior guidance ● Operating income of $5.2 million increased 78% year-over-year, outpacing revenue growth ● Net income of $15.0 million ( $5.34 per diluted share), including a net positive impact of $9.8 million related to the release of our deferred tax valuation allowance ● Adjusted EBITDA of $9.2 million, compared to $8.2 million in the fourth quarter of 2024 and exceeding the high end of prior guidance

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NCS Multistage Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001437749-26-006915

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